Governance in the Family Businesses

Veland Ramadani, Esra Memili, Ramo Palalić and Erick P. C. Chang
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Veland Ramadani: South East European University
Esra Memili: University of North Carolina at Greensboro
Ramo Palalić: International University of Sarajevo
Erick P. C. Chang: Arkansas State University

Chapter 2 in Entrepreneurial Family Businesses, 2020, pp 29-41 from Springer

Abstract: Abstract The key factor distinguishing family firms from others is the family’s involvement in the governance of their firm through participation in ownership, management, and board (if any) along with their intentions for maintaining family control over the firm across generations. Firma Roleski in the profile of this chapter is an example. The level of family involvement in governance depends on a firm’s being private or publicly traded, firm age, firm size, industry in which it operates, and family size as well as other family dynamics. In the profile firm Firma Roleski, aside from 100% family ownership and involvement in management, a family constitution is in place not only to ensure the continuity of the family business success but also to facilitate the succession to future generations.

Date: 2020
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DOI: 10.1007/978-3-030-47778-3_2

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